Friday, July 12, 2013
Here we go again
Gas prices managed to drop somewhat in my area after the July 4th holiday, but were soon on their way back up. And when I saw that the price of oil jumped $3 a barrel on Wednesday, I knew we were headed for trouble.
Right on cue, prices jumped another 20 cents overnight - $3.75 in my neighborhood. And apparently it's not going to get any better for a while.
From USA Today;
Prices at the pump — up 4 cents the past week to a national average of $3.52 a gallon — could climb another 15 cents or higher over the next two weeks.
"It's getting ugly,'' says Patrick DeHaan, senior analyst for GasBuddy.com. "First and foremost, the political problems in Egypt are driving crude oil prices, but there has also been a sharp drop in oil supplies the past two weeks. This is coming at a time when demand is at its annual July peak."
Not comforting news .... here's the story, if you're interested: